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British businessman’s Web3 startup Thirdweb raises $24M at $160M valuation from Shopify, Coinbase and more

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San Francisco-based thirdweb, a groundbreaking technology platform for building NFT and Web3 apps, has scored $24 million in Series A funding. The round brings the valuation of the company to $160 million.

Plans to develop its platform

The investment round was led by Haun Ventures, Coinbase Ventures, Shopify and Polygon. thirdweb will use the funds to accelerate platform development to meet increasing demand, add support for additional blockchains and grow the user base by onboarding hundreds of thousands of new brands, individuals and creators, driving mainstream adoption of Web3.

“Web3 is the most important technological shift I’ve witnessed in my lifetime. We built thirdweb to give the builders that are creating this next iteration of the internet the tools they need to be successful, and when they are successful, the world as we know it will be remarkably different – remarkably better. I don’t think anybody quite realises how much Web3 is going to change the world.” said Steven Bartlett, co-founder of thirdweb.

“I backed thirdweb because I believe they have the talent, tenacity and vision to create the infrastructure layer for Web3. Web3 is going to revolutionise multiple industries – thirdweb’s platform will enable that revolution” said Gary Vaynerchuck, founder and CEO of Vayner/RSE who previously backed thirdweb.

“I’ve built internet companies in Web1 and Web2 and I’m seeing the same patterns in web3 which suggest this is going to transform the internet as we know it. thirdweb is building the infrastructure layer for web3, giving builders the tools to unlock the power of blockchain technology and accelerating them as they build the next world-changing companies. We’re excited to expand our vision further and onboard the next 10 million developers onto web3,” said Furqan Rydan, founder of thirdweb.

“Our mission is to accelerate the next generation of the internet and we believe thirdweb will play a critical role in realizing that. As complexity to develop in web3 continues to increase, the experienced team at thirdweb led by Furqan and Steven have built an elegant solution that allows developers to build fast while avoiding costly mistakes. I’m pleased to see proven founders of this caliber dedicating their next chapter to crypto and look forward to supporting their efforts”, Katie Haun, founder and CEO of Haun Ventures.

Platform to build NFT and Web3 apps

Founded in 2021 by Steven Bartlett and Furqan Rydhan, thirdweb is building the infrastructure layer for Web3. The platform empowers users to unlock a full stack Web3 development kit to significantly reduce the time and cost required to build and launch applications. thirdweb facilitates the creation of Web3 apps across the most-popular blockchains, including blockchain games, NFT drops, DAOs, token gated membership clubs and more.

Since its debut, over 55,000 developers have used thirdweb’s tools to build NFT drops and other web3 applications.

 

 

Source: EDITORIAL TEAM | TECHFUNDINGNEWS.COM

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